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NEW YORK (GenomeWeb News) – EMBL ventures, the venture capital arm of the European Molecular Biology Laboratory, today announced the €40 million ($55 million) first close of its EMBL Technology Fund II.

The venture arm of Heidelberg, Germany-based EMBL will remain focused on investments in European biotech and medtech companies and said that it intends to commit between €2 million and €5 million per investment.